Steps to Purchase
How to Purchas a unit at Milepost 5: Don't hesitate to contact Deborah or Alyssa at 503-729-3223 or live@milepostfive.com to walk you through the process. We're with you every step of the way!
- Visit Milepost 5, see the model units and get a tour of the site. Sales office hours are Sundays from 1-4pm or by appt. Contact Alyssa (503) 724-6933 or live@milepostfive.com with any questions. If you are not local to Portland, simply contact Alyssa.
- Meet with a lender. (We can suggest a few who are approved lenders for Milepost 5 homebuyers) and get pre-approved for a loan. Though it might sound like a lot if you haven't done it, this is a surprisingly simple step! Albina Community Bank is the preferred lender for Milepost 5, The Lofts
- If this is your first time buying a home, attend a Homebuyer Education Class. You can do this before or after you submit an application. So you understand all the steps, you should attend an "ABC's of Homebuying" class. This class is offered frequently through several nonprofits in the Portland metropolitan area, including the Portland Housing Center.
- Submit a Non-binding Reservation Agreement to let us know what your unit preferences are and if you're interested in extra storage or off-street parking. Include a $100 refundable deposit, payable by check or money order payable to Fidelity National Title Insurance Company of Oregon and a pre-approval letter from your lender to Deborah or Alyssa.
- Meet individually with Milepost 5 staff to go over in detail the buying process and review and sign a Purchase & Sale Agreement and make an earnest money deposit. If you’d like, you may also meet independently with an attorney to review documents related to your purchase. We are happy to help you find an attorney, if you'd like. If you are not local to Portland, it is easy to complete this step remotely by phone, fax, and email.
- Proceed To Closing. Congratulations! At closing, you will complete the necessary paper work and the keys are yours!
